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Trade News Archive June 08 May 08 April 08 March 08 February 08 January 08
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16th June 2008
Consumers 'still spending on green items'
The economic slowdown in the UK has not stopped consumers from buying environmentally-friendly and sustainable products, a new report has suggested.
Virgin Money found that 80 per cent of shoppers have either made no change or increased the amount they spend on eco goods since signs began to emerge that the economy was slowing.
The study found that people aged under 25 and over 65 were most likely to spend significant money on sustainable goods.
Overall, 76 per cent of UK shoppers buy some environmentally-friendly goods.
"It's not easy being green, particularly at a time when many are feeling the pinch due to increases in the cost of outgoings such as fuel, food and other household bills," Virgin Money spokesman Scott Mowbray explained.
"It's not uncommon to see expensive goods decline in popularity during a time of economic downturn but the research shows that concern for the environment is not a passing fad and consumers are prepared to make other sacrifices in order to stay green."
Recent figures from the British Retail Consortium indicated that retail sales recovered somewhat across the UK in May.
(c) 2008 Adfero Ltd.
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